Is your estate plan in order? Estate planning is ultimately about ensuring that you have the right mechanisms in place to ensure that, in the event of your death, your assets pass in the manner that you intend. The steps in the process involve identifying the assets in play – this could involve savings accounts, shares, collectibles, property, vehicles, superannuation, and more! – and then who owns them. Having done that, the next question is one that only you can answer: how do you want these assets distributed upon your death? An estate plan brings about this outcome.
The subdivision of land is as popular as ever. Where one of the subdivided blocks is then sold off, there may be GST and CGT consequences for the seller. These tax consequences are dependent on a range of factors unique to the particular case at hand.
Meanwhile, the results are in! 2021/22 saw super funds record their worst results since the GFC! Sit tight and have faith, change your super fund, start an SMSF…are just some of your options if your super balance has suffered a decline.
Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
Disclaimer: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information.